Thompson Investment Management Inc. Increases Stake in Chewy, Inc. (NYSE:CHWY)

Thompson Investment Management Inc. increased its position in shares of Chewy, Inc. (NYSE:CHWY) by 30.7% in the first quarter, HoldingsChannel.com reports. The firm owned 294,480 shares of the company’s stock after acquiring an additional 69,188 shares during the quarter. Thompson Investment Management Inc.’s holdings in Chewy were worth $4,685,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Headinvest LLC purchased a new position in shares of Chewy during the 3rd quarter worth approximately $39,000. Quest Partners LLC purchased a new stake in Chewy during the fourth quarter worth about $65,000. Signaturefd LLC grew its position in Chewy by 37.8% during the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after buying an additional 922 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Chewy by 15.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock worth $95,000 after acquiring an additional 543 shares during the period. Finally, Liberty One Investment Management LLC raised its stake in shares of Chewy by 23.7% during the 4th quarter. Liberty One Investment Management LLC now owns 6,483 shares of the company’s stock worth $153,000 after buying an additional 1,241 shares during the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Chewy news, CAO Stacy Bowman sold 8,025 shares of Chewy stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total transaction of $124,628.25. Following the transaction, the chief accounting officer now directly owns 243,769 shares of the company’s stock, valued at $3,785,732.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Chewy news, CAO Stacy Bowman sold 8,025 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $124,628.25. Following the sale, the chief accounting officer now owns 243,769 shares of the company’s stock, valued at approximately $3,785,732.57. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sumit Singh sold 6,728 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $104,485.84. Following the transaction, the chief executive officer now directly owns 129,991 shares in the company, valued at $2,018,760.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,862 shares of company stock worth $1,047,242. 2.10% of the stock is owned by corporate insiders.

Chewy Price Performance

CHWY stock traded up $0.13 during trading on Wednesday, reaching $30.12. 14,979,044 shares of the company were exchanged, compared to its average volume of 9,697,149. The company has a 50-day moving average of $19.10 and a two-hundred day moving average of $18.80. The company has a market capitalization of $13.10 billion, a price-to-earnings ratio of 163.78, a P/E/G ratio of 4.97 and a beta of 1.00. Chewy, Inc. has a twelve month low of $14.69 and a twelve month high of $40.22.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.11. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.85 billion. Chewy had a return on equity of 16.62% and a net margin of 0.73%. On average, analysts forecast that Chewy, Inc. will post 0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CHWY shares. UBS Group lifted their price target on shares of Chewy from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Piper Sandler upped their price target on Chewy from $16.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Morgan Stanley upped their price objective on Chewy from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Raymond James upped their price target on Chewy from $19.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Finally, Bank of America lowered their target price on shares of Chewy from $17.00 to $16.50 and set an “underperform” rating for the company in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.31.

About Chewy

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.